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Codebase Ventures Inc

Buds & Duds: Cannabis shares start August with a whisper but Codebase Ventures soars

Also on the move were Yield, Aleafia, Green Growth Brands and Ionic Brands

cannabis
Code Cannabis Investments will identify early-stage assets and startups in the sector

Cannabis stocks remained relatively flat on Thursday in a quiet start to the month of August.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, grew 0.4% to hit 211.6 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 1.1% to C$16.07, while the OTCQX Cannabis Index fell 0.8% to 700.4 points.

Buds

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF), an investment company targeting early-stage blockchain and crypto companies, saw its shares jump after announcing its new subsidiary Code Cannabis Investments is conducting due diligence on an organic farm in New Berlin, New York which can potentially grow hemp.

Code Cannabis Investments will identify early-stage assets and startups in the sector that could benefit from its capital and industry knowledge.

Shares of parent company Codebase Ventures gained 14.3% at C$0.04 in Thursday morning trading.

Other bright spots included The Yield Growth Corp (CSE:BOSS) (OTCQB:BOSQF), which entered into a definitive agreement to provide a non-exclusive license for the worldwide rights to eight hemp product topical formulas to California’s Antler Retail Inc. Shares flew 14.5% higher at C$0.40.

Aleafia Health Inc (TSE:ALEF) (OTCMKTS:ALEAF) also gained on the announcement that subsidiary Emblem Cannabis Corporation completed the largest adult-use cannabis order in company history, valued over C$1 million. Its shares edged 3.9% higher at C$1.08.

Duds

Among the laggards for the day was Green Growth Brands Inc (CSE:GGB) (OTCMKTS:GGBXF), which was down 5.1% at C$2.04 after announcing it had completed the acquisition of Spring Oaks Greenhouses, which operates dispensaries in Nevada, Massachusetts and Florida.

Ionic Brands Corp (CSE:IONC) (OTCMKTS:IONKF) dropped 11.4% to reach C$0.16 following the announcement that its edibles line is launching in Illinois dispensaries.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Codebase Ventures Inc

Price: $0.04

Market: CSE
Market Cap: $10.42 m
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